Mark Beasley Explains Why Risk and Business Strategy Must Align
ERM Initiative Director Mark Beasley urges organizations to better incorporate risk management into broader strategy discussions.
Organizations tend to separate their risk management decision making from their overall business strategy discussions — and that needs to change — according to Poole College Enterprise Risk Management Professor Mark Beasley.
“One of the challenges we observe, and have observed for quite a while, is this sort of separation of how an organization manages and thinks about risk and how it manages and thinks about strategy,” Beasley said when discussing one of the key takeaways for finance professionals in AICPA’s latest “State of Risk Oversight” report, an annual report on risk oversight practices, with CFO Brew. “It’s not that entities don’t manage risk, but often they struggle to reconnect risk and strategy, to really integrate risk thinking as they think about strategy thinking.”
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